Course Introduction
International Business
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International Business explores the complexities and opportunities of conducting commerce across national borders. The course examines the economic, cultural, political, legal, and ethical environments that shape global markets, along with the strategies multinational corporations use to enter new markets, navigate foreign regulatory systems, and manage international operations. Students gain insight into topics such as international trade theories, foreign exchange, cross-cultural management, global marketing, and international finance, preparing them to understand and address the challenges facing businesses in todays interconnected global economy.
Recommended Textbook
International Business The Challenges of Globalization 8th Edition by John Wild
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16 Chapters
1649 Verified Questions
1649 Flashcards
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Page 2
Chapter 1: Globalization
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45497
Sample Questions
Q1) Which of the following refers to the use of computer networks to purchase,sell,or exchange products;service customers;and collaborate with partners?
A)e-commerce
B)telecommuting
C)data virtualization
D)virtual hosting
Answer: A
Q2) Crystal inc.is a multifaceted company that deals with the mining,cutting,and selling of diamonds.It gives distributors and suppliers access to its database to place orders or restock inventories electronically and automatically.Which of the following is the network implemented in the company?
A)intranet
B)chaosnet
C)extranet
D)ethernet
Answer: C
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Chapter 2: Cross-Cultural Business
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) According to Hofstede's framework,a culture with ________ values security and places its faith in strong systems of rules and procedures in society.
A)large uncertainty avoidance
B)low power distance
C)short-term orientation
D)high individualism
Answer: A
Q2) Which of the following refers to the process by which cultural traits spread from one culture to another?
A)cultural heterogeneity
B)cultural imperialism
C)cultural diffusion
D)cultural literacy
Answer: C
Q3) Businesspeople measure material culture to determine whether a market can support production activities.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Political Economy and Ethics
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45499
Sample Questions
Q1) When a country's religious leaders are also its political leaders,its political system is called a theocracy.
A)True
B)False
Answer: True
Q2) Product liability laws hold only manufacturers responsible for damage,injury,or death caused by defective products.
A)True
B)False
Answer: False
Q3) Totalitarian governments tend to favor private ownership of economic resources. A)True
B)False Answer: False
Q4) The U.S.legal system is largely based on ________.
A)common law
B)social law
C)civil law
D)theocratic law
Answer: A
Page 5
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Chapter 4: Economic Development of Nations
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) A government can limit the economic activities of a foreign firm that resists its effort to introduce home-country nationals into the company.
A)True
B)False
Q2) Guanxi,in the Chinese business context,means ________.
A)bribing government officials
B)manufacturing inexpensive products
C)personal relationships
D)preference for communism
Q3) ________ occurs if ownership of a property or assets of a company is transferred to the host government.
A)Internalization
B)Nationalization
C)Deportation
D)Deracination
Q4) Explain each of the four means of incorporating risk into business strategies when companies employ an adaptation strategy.
Q5) Describe the Foreign Corrupt Practices Act,and explain how it relates to corporate social responsibility.
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Chapter 5: International Trade Theory
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Adam Smith believed that ________.
A)governments should determine trade flows
B)market forces should determine trade flows
C)international trade should be restricted by tariffs and quotas
D)countries should produce most goods themselves and trade as little as possible
Q2) Who proposed the theory of absolute advantage?
A)David Ricardo
B)Adam Smith
C)Bertil Ohlin
D)Raymond Vernon
Q3) The theory of absolute advantage destroys the mercantilist idea that international trade is a zero-sum game.
A)True
B)False
Q4) The ________ theory states that a country's export eventually becomes its import.
A)competitive advantage
B)factor proportions
C)international product life cycle
D)new trade
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Chapter 6: Political Economy of Trade
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Describe the different types of tariffs and provide an example of each.
Q2) Which of the following is a method of restricting trade?
A)export financing
B)local content requirements
C)subsidy
D)foreign trade zones
Q3) Country A implements a ban on trade in two products with Country B.This is an example of a(n)________.
A)embargo
B)tariff-quota
C)tariff
D)voluntary export restraint
Q4) Which of the following statements is true of embargoes?
A)An embargo may be placed on one or a few goods or may completely ban trade in all goods.
B)An embargo is the least restrictive nontariff barrier available.
C)An embargo is usually employed for economic reasons.
D)Embargoes are used frequently today because they are easy to implement.
Q5) Explain how tariffs protect domestic producers,and describe how a foreign trade zone might offset the effects of tariffs.
Page 8
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Chapter 7: Foreign Direct Investment
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) The income payments account includes income earned on home country assets held abroad.
A)True
B)False
Q2) Which of the following systems of production is used by GMI?
A)job
B)craft
C)rationalized
D)customized
Q3) A current account deficit occurs when a country exports more goods and receives more income from abroad than it imports and pays abroad.
A)True
B)False
Q4) Describe any three management issues involved in foreign direct investment decisions.
Q5) The merchandise account includes exports and imports of tangible goods.
A)True
B)False
Q6) Discuss why a host country might promote or restrict foreign direct investment.
Q7) What two factors propel growth in foreign direct investment?
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Chapter 8: Regional Economic Integration
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Country M wants member nations to harmonize their tax,monetary,and fiscal policies and wants to create a common currency.Country M is requesting for the creation of a(n)________ in the Moonland nations.
A)free trade area
B)economic union
C)customs union
D)common market
Q2) The least amount of sovereignty that must be surrendered to a trading block occurs in a political union.
A)True
B)False
Q3) While ________ encourages free trade among Canada,Mexico and the United States,manufacturers and distributors must abide by local content requirements and rules of origin.
A)NAFTA
B)LAFTA
C)CAN
D)CAFTA-DR
Q4) Discuss the benefits and drawbacks of regional integration.
Q5) Describe the Association of Southeast Asian Nations (ASEAN).
Page 10
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Chapter 9: International Financial Markets
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) The exchange rate between the euro ( )and the dollar is 0.8461/$.Which of the following is the correct direct quote on the dollar?
A)$2.20/
B)$1.1819/
C)$5.50/
D)$0.8461/
Q2) The absence of government regulation in the Eurobond market ________.
A)substantially reduces the cost of issuing a bond
B)lowers the risk level of the bond
C)makes Eurobonds less popular than foreign bonds
D)exists because of the difficulty of regulating a multi-country market
Q3) The practice of insuring against potential losses that result from adverse changes in exchange rates is called currency ________.
A)hedging
B)arbitrage
C)speculation
D)conversion
Q4) Why do governments impose currency restrictions and how can companies get around such restrictions?
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Chapter 10: International Monetary System
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) The efficient market view holds that ________.
A)companies can search for new pieces of information to improve forecasting
B)forward exchange rates provide the least accurate forecasts of future exchange rates
C)companies must spend time and money collecting and examining information believed to affect future exchange rates
D)prices of financial instruments reflect all publicly available information at any given time
Q2) If the law of one price is applied and upheld,an arbitrage opportunity arises.
A)True
B)False
Q3) Which of the following lowers the price of a country's exports on world markets and increases the price of its imports?
A)revaluation
B)devaluation
C)currency hedging
D)currency arbitrage
Q4) Compare and contrast the two main techniques for forecasting exchange rates.
Q5) Briefly describe the gold standard,its advantages,and why it collapsed.
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Chapter 11: International Strategy and Organization
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Briefly describe the strategy formulation process of international organizations.
Q2) Differentiate between a multinational and a global strategy.Identify the main benefits and the main drawbacks of each.
Q3) ________ decision making occurs at a high organizational level in one location,such as an organization's headquarters.
A)Centralized
B)Facilitative
C)Participative
D)Consultative
Q4) The main benefit of a global strategy is that it allows a company to ________.
A)closely monitor buyer preferences in each local market
B)save costs due to product and marketing standardization
C)customize its products and services
D)respond effectively to emerging buyer preferences
Q5) A differentiation strategy is often implemented when a company wants to exploit economies of scale to have the lowest cost structure.
A)True
B)False
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Chapter 12: Analyzing International Opportunities
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Issues regarding potential threat from substitute products in a market are addressed in ________.
A)security analysis
B)technical analysis
C)product fit analysis
D)competitor analysis
Q2) Companies usually create a single marketing plan to be used in all markets in which they sell their products.
A)True
B)False
Q3) Food and utilities are examples of income-inelastic products.
A)True
B)False
Q4) Small and medium-sized companies often find trade missions very appealing because ________.
A)it gives companies an opportunity to visit new places
B)such trips are usually cheap even for the smallest of businesses
C)it provides access to important business officials and executives
D)it helps companies analyze the strategies of all major competitors
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Chapter 13: Selecting and Managing Entry Modes
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Through his research,Owen learns that the first step in developing a successful export strategy is ________.
A)initiation of meetings with intermediaries
B)identification of a potential market
C)commitment of resources
D)matching of market needs to company abilities
Q2) Typically,indirect exporting relies on local sales representatives or distributors.
A)True
B)False
Q3) The sale of goods and services to a country by a company that promises to buy a specific product from that country in the future is called a(n)________.
A)counterpurchase
B)offset
C)joint venture
D)barter
Q4) What is countertrade? Explain the concept of buyback as a type of countertrade,and discuss buyback as a joint venture configuration.
Q5) What are the different financing methods available to exporters and importers?
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Chapter 14: Developing and Marketing Products
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) A pricing policy in which a product has a different selling price in export markets than it has in the home market is called ________.
A)dual pricing
B)cost-plus pricing
C)penetration pricing
D)premium pricing
Q2) Which of the following is implied by a product with a low value density?
A)the distribution system is more localized
B)the product is more valuable
C)the cost of shipping the product is negligible
D)the product is processed in areas away from their original locations
Q3) Dual extension method extends the same home-market product and marketing promotion into target markets.
A)True
B)False
Q4) A brand name can function as a legal property.
A)True
B)False
Q5) How does the dual extension method work as a promotional strategy?
Q6) Describe any four factors that affect international product strategies.
Page 16
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Chapter 15: Managing International Operations
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Which of the following is experienced by a company that outsources its product development?
A)reduced investments in research and development
B)reduced market flexibility
C)less market influence with suppliers
D)lower product costs due to the elimination of intermediaries
Q2) Explain the concept of capital structure as it applies to a company with international operations.
Q3) The particular process to be used to create products is typically determined by a firm's business-level strategy.
A)True
B)False
Q4) One reason to buy a product instead of making it in-house is the greater flexibility to respond to market conditions.
A)True
B)False
Q5) Discuss the standardization versus adaptation decision for managers when considering production facilities,and describe considerations for managers when acquiring fixed assets.
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Chapter 16: Hiring and Managing Employees
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) ________ is the process of staffing a company and ensuring that employees are as productive as possible.
A)Business process reengineering
B)Human resource management
C)Organizational diagnostics
D)Industrial relations
Q2) Discuss the disadvantages of an ethnocentric staffing policy.How do bonuses,tax incentives,and employee expectations contribute to high personnel costs?
Q3) The approach recommended by Jerome is called ________.
A)vertical integration
B)ethnocentric staffing
C)horizontal integration
D)geocentric staffing
Q4) To teach its employees the values,attitudes,manners,and customs of the host-country culture,Gem Jewels should offer ________.
A)language training
B)environmental briefings
C)cultural assimilation
D)field experience
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